Traders count loses as prices of grains crash in Yobe
The prices of grains across markets in Yobe State have crashed to record low, due to bumper harvest during the last farming season.
Beans, millet and guinea corn are the grains whose prices sloped down in recent times, a development that is catastrophic to the grains dealers in the state, while a good news for low-income consumers. The survey also showed that millet was sold at the cost of N9,000 to N10,000 per 100kg bag during the time of harvest, but now the price has gone down to N7500 to N7700.Interestingly however, the price of sesame has gone up from its initial price of N27,000 to N32,000 per 100kg bag, while the price of groundnut remains static at N32,000 per 100kg bag.
“Again, the disaster that befell Kaduna’s grain reserve where rainstorm destroyed the facility and commodities worth billions of naira, a development that discouraged the major dealers who normally buy stuff in large quantity from us, as they are still counting loses.”
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